For the full year, its profit after tax jumped 36.5 per cent to Rs 1,952.21 crore from Rs 1,429.21 crore in FY18 due to increased portfolio and reducing cost to income ratio.
SIDBI can file a case as soon as on Wednesday to seek repayments of all its deposits in IL&FS
The Department of Industrial Policy and Promotion (DIPP) is the monitoring agency, while Small Industries Development Bank of India (SIDBI) is the operating agency for the FFS.
The bank has tied up with Common Service Centre (CSC) to meet this objective, Sidbi Chairman and Managing Director Mohammad Mustafa told PTI.
A memorandum of understanding (MoU) was signed with The New India Assurance Co and two MSMEs were issued insurance policies, SIDBI said in a statement today.
The index will indicate the current state and expected outlook on the MSME sector every quarter
The present shareholders of Bandhan Bank, SIDBI, IFC and GIC of the Singaporean government were likely to take part in the maiden offering. Bandhan Bank, which started full-fledged banking operations in August 2016, were asked by RBI to come out with the IPO in three years from then, he told PTI.
The bank has sold 53,19,220 shares constituting 1 per cent of the paid up capital of Sidbi, IDBI Bank said in a regulatory filing.
Adityanath said that Rs 25 lakh will be given to universities and leading educational institutions to encourage students to take up self-employment through startup projects.
"The initiative would enhance access of MSMEs to capital markets including SME trading platform and institutional trading platform," Sidbi said in a statement here.
Nearly 17 local venture capital (VC) funds were sanctioned Rs 623.50 crore in the year to March, from the government’s ambitious Fund-of-Funds, set up to fund VCs that could, in turn, invest in early stage companies or start-ups.
The government would also wait for a good offer before deciding on the stake sale, sources told CNBC-TV18.
During fiscal year 2014-15 and 2015-16 sanctions were made to 11 funds (Rs 314 crores) and 16 funds (Rs 607 crores) respectively while the number during the current financial year has already crossed Rs 1,112 crores to 30 funds.
Infrastructure term lender IFCI today said its board has approved divesting the entire 45.5 percent stake in associate firm Hardicon as per its plan to exit from non-core business activities.
Infrastructure term lender IFCI Ltd has sold its entire 45.5 percent stake in associated firm Hardicon Ltd at an undisclosed price.
Government has given a one-time relaxation to banks for submission of online applications for claims under Credit Linked Capital Subsidy Scheme (CLCSS), due to their heavy workload post demonetisation.
Speaking to CNBC-TV18 Anshula Kant, Deputy MD & CFO of SBI said that deposit growth has been strong for the bank. Sudhin Choksey, MD of Gruh Finance, said that demand side incentives are a significant relief to families in the segment. Jairam Sridharan, CFO, Axis Bank said the government schemes are good.
A Scheme for Promotion of Innovation and Rural Entrepreneurship and agro industry(ASPIRE)â€ with an aggregate corpus of `200 crore for promoting innovation and rural entrepreneurship through rural livelihood business incubators, technology business incubators and fund of funds.
SIDBI on Thursday launched a Rs 60 crore ASPIRE fund to promote innovation, rural entrepreneurship and agricultural industry.
The company raised fund from HDFC Ergo General Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, RBL Bank, Shriram Life Insurance, Small Industries Development Bank of India (SIDBI) and private equity funds such as Arpwood Investments and Faering Capital, a release said.
To expedite disbursal of loans to micro, small and medium enterprises (MSMEs), the government is considering setting up Financial Facilitation Centres
YES BANK, India fifth largest private sector Bank, has signed a Memorandum of Understanding with SIDBI under the Partial Risk Sharing Facility (PRSF) for financing Energy Efficiency Projects program.
Sidbi entered into a partnership with private sector lender Yes Bank to guarantee 75 per cent of loans of up to Rs 15 crore extended to energy efficiency projects under a World Bank initiative